Lloyd Dorfman

Chairman, Travelex Group

Lloyd Dorfman is Chairman of the Travelex Group. Having briefly sampled the bar and investment banking, he started his own currency exchange business in 1976 from one small shop in central London. Following the £440m acquisition of Thomas Cook's Global & Financial Services business in March 2001, the Travelex Group is now the world’s largest airport money operator, with a turnover of £466million and more than 4,800 employees servicing 40% of the world’s airline passengers.  Travelex is valued at over £1bn and although Dorfman is still chairman and chief exec, he sold half his 63 per cent share to Apax for £348m. Investor 3i sold its stake to Apax for £217m.

An entrepreneur to his fingertips, Dorfman attributes his success against larger competitors to Travelex’s quick decision-making culture. He loathes mission statements. “I always want to be the biggest and the fastest, so why should I have to pin it up on the wall?”

In 2001 Lloyd Dorfman was the winner of the Consumer Business Category in the UK "Entrepreneur of the Year" awards sponsored by Ernst & Young, Citibank and The Times. In 2002 he received the British American Chamber of Commerce's UK Entrepreneurial Award, and the Institute of Economic Affairs' Free Enterprise Award.

He is a Non-Executive Director of M & C Saatchi plc, a Governor of St Paul's School, London, a Patron and Deputy Chairman of The Prince's Trust Development Board, and an Honorary Fellow of St Peters College, Oxford.

Lloyd Dorfman was educated at St Paul's School, and did not go to university. He is married with three children and lives in London.

Similar to Coutts, Travelex has a passion for supporting the performing arts.  In 2005 Travelex announced their headline sponsorship of two £1 million schemes at the National Theatre and the Royal Opera House. The two £1m schemes that have greatly reduced seat prices for a yearly season at the NT and a series of selected Monday performances at the ROH. In the first Travelex season at the NT 50,000 new customers booked tickets, while at the ROH 80% of those applying for £10 seats have no booking history with the house.  According to Dorfman, “the recurring theme of our sponsorship is to support world-class performing arts and you don’t get better than the ROH or the National”.